September 9, 2019
Mexico's Industrias Peñoles said it has raised money to pay off short-tern debt by placing $1.1bn in new notes under Rule 144A and Reg S in the US market.
The mining company divided the deal in two, pricing $550m in 10-year notes at 4.15% and $550m in 30-year notes at 5.65%, Peñoles said in a securities filing on Thursday. Orders climbed to more than six times the size of the offering, it added.
The bookrunners were Bank of America, Goldman Sachs, JPMorgan, Santander and Scotiabank.
Mexican miner lowers costs with $1.1bn in new 10- and 30-year notes